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ICE November 2021 canola (candlesticks) with 20-, 50- and 100-day moving averages (yellow, green and black lines) and CBOT October 2021 soyoil (blue line, left column). (Barchart)
Crops, Markets

ICE weekly outlook: Canola futures slide, cash prices might not follow

Weakness seen ongoing in soy complex

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MarketsFarm — If the October soyoil contract on the Chicago Board of Trade (CBOT) falls to 55 U.S. cents/lb., it’s likely ICE Futures canola will drop to around $850 per tonne, according to analyst Errol Anderson of ProMarket Communications in Calgary. ICE November canola closed Wednesday at $890.80 per tonne, giving up $10.80 since the
Currency markets

Canadian Financial Close: TSX hits record high, oil down

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WINNIPEG – The Canadian dollar inched upwards on Wednesday. The loonie was at US$0.7932 or US$1=C$1.2607 on Wednesday, compared to Tuesday’s close at US$0.7926 or US$1=C$1.2617. The United States Dollar Index was down 0.11 of a point at 92.52. Benchmark crude oil prices were mostly down on Wednesday as OPEC+ and its partners agreed to
Futures markets

North American Grain and Oilseed Review: Front months retreat, deferred contracts up

CBOT sees third day of declines

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By Glen Hallick, MarketsFarm WINNIPEG, Sept. 1 (MarketsFarm) – For the third consecutive day, Intercontinental Exchange (ICE) canola futures were lower, but came away from much larger declines earlier in the session, while the more deferred positions finished on a positive note. Weakness in the Chicago soy complex kept canola down, but the complex also
Futures markets

ICE Canola Midday: Soyoil continues to pull down prices

Cash prices could stay higher if demand is there

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By Glen Hallick, MarketsFarm WINNIPEG, Sept. 1 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures remained lower at midday Wednesday, as the markets kept driving down Chicago soyoil. “Beanoil is clearly in a downtrend now,” commented a Calgary based analyst, noting that November canola could drop to C$850 per tonne and even to the next resistance
Global markets

Global Markets: Board blocks CN acquisition of KCS

CN needs to rework takeover deal if it wants to continue

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Compiled by Glen Hallick, MarketsFarm WINNIPEG, Sept. 1 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Canadian National Railway’s (CN) attempt to acquire the Kansas City Southern Railway (KCS) was dealt a severe blow on Tuesday when the United States Surface Transportation Board (STB) blocked the
Futures markets

ICE canola continues lower Wednesday morning

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Sept. 1 (MarketsFarm) – The ICE Futures canola market was weaker Wednesday morning, taking some direction from the Chicago soy complex as the Canadian oilseed remains overpriced. Crush margins dipped to roughly C$25 per tonne below the nearby futures on Tuesday, marking a C$100 per tonne drop from both the
(Bondarillia/iStock/Getty Images)
Crops, Markets, Pulses, Weather

Pulse weekly outlook: Tight Canadian supplies to cut into exports

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MarketsFarm –– Canadian pulse supplies during the 2021-22 marketing year will be the tightest of the past decade due to drought during the growing season, with the country likely to be a much smaller player in the international export market for peas, lentils and chickpeas as a result. Statistics Canada pegged the country’s 2021-22 pea
(Olymel video screengrab via YouTube)
Hogs, Livestock, Markets

Striking Olymel workers accept new six-year deal

Slaughter could restart Friday at earliest, company says

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Striking workers at a major hog slaughter and cutting plant in Quebec’s Beauce region have agreed to a new six-year contract that could see slaughter resume Friday at the earliest. Olymel and the CSN-affiliated Syndicat des travailleurs d’Olymel Vallee-Jonction (STOVJ) announced Tuesday afternoon that unionized workers at the company’s Vallee-Jonction plant, south of Quebec City,

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